Chase Sapphire Preferred vs. Amex Premier Rewards Gold: Which One Should You Apply For?

One of the most commonly requested videos is to compare the Chase Sapphire Preferred (CSP) to the Amex Premier Rewards Gold (Amex PRG). Both cards are travel cards that have annual fees, but which one should you get?

You can veiw credit card offers by hovering over the "Credit Card Offers" tab. Click "Travel Credit Cards" and "Show More Results" until you find the card you're looking for. You don't have to use our links, but we're grateful when you do. Thank you for supporting AskSebby!

In our analysis, we compared the value you would get in Year 2 to see which one you should keep in the long term. If you're under Chase 5/24, then the answer is to get the CSP first before worrying about any other cards.

Should you get the Chase Sapphire Preferred or the Amex Premier Rewards Gold?

Download the CSP vs. Amex PRG spreadsheet here and modify the yellow cells: http://bit.ly/asksebby-cspvsprg

Instructions

  1. Make a copy (“File > Make a copy OR download as”)

  2. Enter information into the yellow cells

  3. Any cell that is not yellow is a formula; leave them alone

 

Basics

To start off, both cards don't have foreign transaction fees. The CSP has a $95 annual fee, and the Amex PRG has a $195 annual fee, both are waived the first year.

CSP and Amex prg basics

CSP and Amex prg basics

The Amex PRG comes with a $100 airline credit. Pick a specific airline for the year to redeem the airline credit. 

Spend Multipliers

With the CSP, earn 2x on flights and restaurants. Earn 3x on flights and 2x on restaurants, gas stations, and supermarkets with the Amex PRG. 

spend multipliers

spend multipliers

In our example, we used $1,000 for each spend category. This comes out to be 6,000 Chase Ultimate Reward points and 9,000 Amex Membership Reward points. 

Value of Points

Pick only one redemption category to calculate the value of points. In our example, we're going to assume you're redeeming points for travel and getting 1.25 CPP and 1 CPP with the CSP and the Amex PRG, respectively. 

value of points

value of points

With the spend numbers from the section above, it comes out to $75 in value and $90 in value from the CSP and the Amex PRG, respectively. 

Expected Value

After calculating the value of points and deducting the annual fee, you're losing $20 by getting the CSP, and $5 with the Amex PRG.

expected value

expected value

Opportunity cost is another factor; the value you would get from using a 2% cash back card. Once we factor this in, we're losing $100 by using the CSP and $85 with the Amex PRG. 

Other Benefits

Collision damage waiver is offered with both cards, but the difference is that the CSP has primary CDW. This matters if you own a car and have car insurance. With secondary CDW, the rental agency will go through your insurance first before using the credit card protections. 

other benefits

other benefits

The CSP also has 12 hour trip delay insurance; they'll reimburse you up to $500 for related expenses. The Amex PRG does not offer trip insurance. 

Both cards offer return protection, but American Express has the best return protection in the industry. 

Bottom Line

Once you factor in the other benefits, you get positive expected value from both cards. In this situation, you want to pick the card that has the higher number because it gives you higher value. 

If the CSP doesn't give you positive expected value, you can product change it to a Chase Freedom or a Chase Freedom Unlimited. 

You can veiw credit card offers by hovering over the "Credit Card Offers" tab. Click "Travel Credit Cards" and "Show More Results" until you find the card you're looking for. You don't have to use our links, but we're grateful when you do. Thank you for supporting AskSebby!